HR 4646
101th Congress
House
Taxation
Corporate mergers
Foreign Trade and International Finance
Foreign investments
Income tax
Interest
Stocks
Tax deductions
To amend the Internal Revenue Code of 1986 to treat as an asset acquisition any hostile qualified stock purchase by a foreign person and to limit the deduction for certain interest where a foreign person acquires control of a domestic corporation.
Introduced: April 26, 1990
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 26, 1990
Referred to the House Committee on Ways and Means.
Apr 26, 1990
Introduced in House
Plain-English summary
Amend the Internal Revenue Code to require that a hostile stock purchase by a foreign person in a corporate takeover be treated as an asset acquisition by the purchasing corporation.
Disallows an income tax deduction for interest on any indebtedness incurred or continued to purchase or carry corporate stock in the domestic corporation.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1